January 18, 2024
Preliminary permit process starting for UW housing redevelopment plan
University of Washington development partner Greystar submitted permit paperwork this week for a multiphase plan to invest in some of the University’s existing housing in the neighborhoods east of the main Seattle campus to increase housing options, affordability for students, faculty and families, and improve student housing quality.
Greystar — a national developer and investor in university student housing in combination with its nonprofit partner, Provident Resources Group — was selected by the UW Board of Regents to lease four University-owned student housing properties: Nordheim Court, Radford Court, Blakeley Village and Laurel Village.
The plan is in line with the University’s commitment to providing a strong percentage of below-market rents for UW students with families, maintaining stable rents for single students, and increasing child care spaces for UW students, faculty and staff. The plan will reduce debt for UW Housing & Food Services, eliminate deferred maintenance in its building portfolio, and allow for the renovation and replacement of certain on-campus residence halls.
Provident will serve as the lessee and borrow the proceeds of tax-exempt bonds to fund the redevelopment. Greystar, which has a strong local team and presence, will serve as the developer and manager of the properties.
All properties are located adjacent to or near the Seattle campus, are prime student housing locations and will continue to provide housing to serve UW students. Students will have priority for all apartments, followed by UW faculty and staff.
Additional details, which remain under review, are as follows:
Phase I
- Nordheim Court currently has 454 apartment beds serving single students and is relatively new. It will continue to serve these students and be managed by Greystar.
- Radford Court currently provides housing for 399 student families, staff and non-university affiliated residents, and is relatively new. This property will continue to serve the UW community and be managed by Greystar. Rents for approximately 127 of these apartments will be set at 50% of Area Median Income (AMI) for UW student families. The existing 77 child care spaces will remain at this facility.
Phase II
- Built in 1981, Blakeley Village, at 4747 30th Ave Northeast, features 80 student family apartments that are nearing the end of their useful life. Blakeley Village will be redeveloped into approximately 1,000 single student apartment beds and is anticipated to open in Summer 2028.
- Built in 1981, Laurel Village, at 4200 Mary Gates Memorial Drive Northeast, features 80 student family apartments that are nearing the end of their useful life. It will be redeveloped into approximately 350 apartments for single UW students, as well as student families with an adjacent 123-space child care facility, anticipated to open in Summer 2028. Rents for approximately 33 of these apartments will be set at 50% of Area Median Income (AMI) for UW student families. These apartments will be available to UW student families when completed.
The University will work to relocate Laurel and Blakeley families with rental agreements predating knowledge of this redevelopment (Sept. 12, 2022) to the 50% of AMI apartments at Radford Court prior to the start of construction at Laurel and Blakeley.
Contact: Victor Balta at balta@uw.edu.
Tag(s): UW Facilities
